Coinbase Trust Receives Final Approval Amid Senate Scrutiny of Crypto Charters

crypto trust charters — Coinbase‘s national trust company has received final regulatory approval to open, even as US senators intensify their scrutiny of how such crypto charters are granted.

The Office of the Comptroller of the Currency (OCC) granted the final clearance on November 9, following a preliminary conditional approval in April. Coinbase stated the charter provides its custody business with a consistent federal operating framework.

This regulatory progress is unfolding against a backdrop of congressional investigation. Lawmakers, led by Senator Elizabeth Warren, have challenged at least nine crypto trust-charter approvals, demanding the OCC provide the applications, legal analyses, and any communications with the White House or Trump family.

Senator Richard Blumenthal has also renewed demands for records from Binance, Tether, and two ventures linked to former President Donald Trump, giving them until January 4, 2027, to comply voluntarily. The moves highlight growing political pressure on the regulatory expansion of crypto firms’ operations.